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>> 21, 22. >> i would say 22. >> so we have to get it down to 20.5. >> the three big beasts in the budget remain medicare/medicaid, social security and defense. you have to cut almost everything else to zero to get close to balance or to make a big difference. so i think in today's world, given that those entitlements, even if you reform them and cut back back will increase as people like us eventually retire. it seems to me that sizing the government for something around 22 or so is probably doable. but not easy to get to. because you still have to have major cuts and major long titlement reform to get there. >> you see one of the major ceo guys, and i'm not going to quote which one, said yesterday looking for premiums on insurance to double because of obama care. and he said -- he made it very clear. he said we're going to cover 30 million people that aren't covered right now and it has to be paid for. irchbls's premiums are going to double. that they didn't tell us. >> that the costs would be up slightly. >> also, that's 30 million, 10% of the population. >> and that he they gave numbe
>> 21, 22. >> i would say 22. >> so we have to get it down to 20.5. >> the three big beasts in the budget remain medicare/medicaid, social security and defense. you have to cut almost everything else to zero to get close to balance or to make a big difference. so i think in today's world, given that those entitlements, even if you reform them and cut back back will increase as people like us eventually retire. it seems to me that sizing the government for something...
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Dec 28, 2012
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i'm shaving a little bit off of this year's deficit. we're going to have fiscal problems for as far as the eye can see, an here's where an investor, a smart investor is going to want to diversify, especially into things like tangible assets like gold. >> you're going to make the case for gold here, which, you know, has had a heck of a run for the last decade or so, but it has started to show signs of wear and tear. what would propel gold from here necessarily? >> well, two things that i would have your viewers take a look at. the first is the reason why gold has kind of flattened out at about 1650 or so is because a huge amount of supply has come on the market. there's a lot of profit-takers who are worried about increased taxes next year. as you said, they have made a lot of money on gold, so they are selling it right now and locking in those profits. the other thing to look at that very few investors have caught on to but when i was at the mint we studied this, gold demand and gold prices correlate very well with the national debt cei
i'm shaving a little bit off of this year's deficit. we're going to have fiscal problems for as far as the eye can see, an here's where an investor, a smart investor is going to want to diversify, especially into things like tangible assets like gold. >> you're going to make the case for gold here, which, you know, has had a heck of a run for the last decade or so, but it has started to show signs of wear and tear. what would propel gold from here necessarily? >> well, two things...
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Dec 28, 2012
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the deficit has been improving. the federal deficit has improved over the last couple quarters. >> so is it the case that perhaps because the economy has done better that perhaps that would save us from a credit rating downgrade even if we go over the cliff? >> i don't expect another downgrade from the other rating firms. the next step would be putting it on negative watch. all three major credit rating firms have a negative outlook. the next step is a negative watch and then a downgrade. we don't expect that to happen. especially if the debt ceiling is raised, which is likely, not many people have been speaking about it, but that's likely to come out over the next couple of weeks. then there's the entitlement reform, which probably is more importantly actually than the deficit talks. >> so in terms of entitlement reform, if we have a mini deal, so to speak, where certain tax rates are maintained for the middle class, let's say, but the amount of time in which entitlement reform can be worked out is an extended time
the deficit has been improving. the federal deficit has improved over the last couple quarters. >> so is it the case that perhaps because the economy has done better that perhaps that would save us from a credit rating downgrade even if we go over the cliff? >> i don't expect another downgrade from the other rating firms. the next step would be putting it on negative watch. all three major credit rating firms have a negative outlook. the next step is a negative watch and then a...
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Dec 27, 2012
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we did hear from house speaker john boehner's spokesman, brendan buck, who tweeted quote my capitol hill location did not have an inspirational message. i feel so lost. and so it goes. >> hampton, you've got that right. i wish i could tell you what's on the feed right now just about your report. thanks so much. hampton, in washington. brian sullivan has more. >> i would say apple is a major tech titan indeed. it has to do with pay. two things. ceo tim cook not sure how he will eat. compensation from 3.78 milli$3. last year -- from $378 million last year. four our executives including gener general counsel getting awards and compensation of 66 million bucks or more each. they do vest in the next couple of years, not like they get money, restricted stock awards. i don't know about you, carl, i could do very well on $66 million. apple is engaged in a lot of lawsuits, probably no surprise the head of the legal team is getting a little something in his stocking this year. >> i can't imagine the damage you would do with that kind of cash. >> i would smash all the cars with my new monster truck
we did hear from house speaker john boehner's spokesman, brendan buck, who tweeted quote my capitol hill location did not have an inspirational message. i feel so lost. and so it goes. >> hampton, you've got that right. i wish i could tell you what's on the feed right now just about your report. thanks so much. hampton, in washington. brian sullivan has more. >> i would say apple is a major tech titan indeed. it has to do with pay. two things. ceo tim cook not sure how he will eat....
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Dec 26, 2012
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not in my time but old days you hear it. part of a whole -- blue dollar thing. >> you're telling me when leisman and santelli go out, they're not both drunk? >> they're living in a deficit time period. thank you for being here. >>> coming up labor disputes that could disrupt the northwest. >>> when you fall behind on global business news, you make bad investment decisions. when you make bad investment decisions, you lose all your money. when you lose all your money, you're tempted to enact a ponzi scheme, and you wind up with this guy. don't end up with this guy as your cell mate. watch "squawk box." >>> welcome back to "squawk box." futures setting up nicely. dow opening up about 15 points higher. nasdaq up a little over a point. some headlines this morning. netflix customers can once again stream video. the service went down midday christmas eve and was out until yesterday on christmas day. netflix comments on problems with amazon's online services. dock workers at four pacific northwest ports have moved closer to a clanch
not in my time but old days you hear it. part of a whole -- blue dollar thing. >> you're telling me when leisman and santelli go out, they're not both drunk? >> they're living in a deficit time period. thank you for being here. >>> coming up labor disputes that could disrupt the northwest. >>> when you fall behind on global business news, you make bad investment decisions. when you make bad investment decisions, you lose all your money. when you lose all your...
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Dec 29, 2012
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live pe live pekt frurs the white house and capitol hill. the dow earlier closed down 158 points and then with the events that took place after the close, take a look at what's happening now. after-market numbers show that we would open down 315 points on the dow if we started trading right now. we have a lot more on this throughout the rest of the program. please stay tuned. we have another leadership crisis, this one in foreign policy. the russian president and vladimir putin signed bill banning adoptions by americans starting january 1st. it's likely 46 children who were to be adopted in the u.s. will have to remain in russia. on average about 900 children get adopted each year by americans in the soviet union, excuse me, from russia and there's been no formal response from the white house on this. here is former pentagon adviser michael rubin. >> thanks for having me, michelle. >> what should the white house do in response to this? >> ultimately, what with will have to be inspected and considered is the whole nature of the reset policy.
live pe live pekt frurs the white house and capitol hill. the dow earlier closed down 158 points and then with the events that took place after the close, take a look at what's happening now. after-market numbers show that we would open down 315 points on the dow if we started trading right now. we have a lot more on this throughout the rest of the program. please stay tuned. we have another leadership crisis, this one in foreign policy. the russian president and vladimir putin signed bill...
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Dec 27, 2012
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but i don't think it was known widely among of congress up on capitol hill. a lot of those folks have said we'll do this in two parts. we'll have the fiscal cliff negotiation, and then later in the early part of 2013 we'll have the debt ceiling fight. and those will be two separate fights. now, by announcing that the deadline is monday, they're going to have the two separate fights at the same time. they're going to have to roll this thing into the same package. that is what the white house wanted all along. they wanted a debt ceiling resolution in this deal, whatever deal comes through here on the fiscal cliff before new year's eve. that is what it looks like they'll have to get if the u.s. wants to avoid defaulting on its debt. now, you know, the wiggle room here that geithner talked about is kind of interesting in this letter because he doesn't know how much wiggle room he has, and ironically, if we go over the fiscal cliff, that would presumably be better in terms of wiggle room on the debt ceiling, because tax revenues would go up, and so more -- there w
but i don't think it was known widely among of congress up on capitol hill. a lot of those folks have said we'll do this in two parts. we'll have the fiscal cliff negotiation, and then later in the early part of 2013 we'll have the debt ceiling fight. and those will be two separate fights. now, by announcing that the deadline is monday, they're going to have the two separate fights at the same time. they're going to have to roll this thing into the same package. that is what the white house...
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Dec 27, 2012
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missed the hearing on benghazi. view lot of republicans at capitol hill pressuring her. once she is well to come and testify about what happened in libya. >> is she one to back down from a situation like that? i don't think so. >> i doubt it. she sunday so much pressure that republicans now are even talking about postponing john kerry's nomination process for secretary of state until clinton testifies. this is going to be a real issue next month when congress is back. >> you could understand why she would be hesitant considering what happened with the previous person who was trying to be secretary of state. right? i mean, this is -- this is a minefield she walking into. >> what makes had situation so much -- there's been an independent report about what happened in benghazi. according to the report about the state department's actions will were systemic failure to republicans and democrats of capitol hill asking questions. what caused the systemic failures? does the buck stop with hillary clinton? no one is sure yet but will have to come and testify and was scheduled to
missed the hearing on benghazi. view lot of republicans at capitol hill pressuring her. once she is well to come and testify about what happened in libya. >> is she one to back down from a situation like that? i don't think so. >> i doubt it. she sunday so much pressure that republicans now are even talking about postponing john kerry's nomination process for secretary of state until clinton testifies. this is going to be a real issue next month when congress is back. >> you...
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Dec 28, 2012
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the debate on the hill has been downright discouraging. republicans and democrats resorting to name-calling as the year comes to a close. this is what we can expect in 2013, more partisan bickering? i'll vote yes. eamon javers is back with what may be ahead on the hill. >> reporter: 2013 is going to be the year that wall street lurns to love elizabeth warren. since she's been appointed to the senate banking committee says they think they can work with elizabeth warren. part of the reason is she's going to sit all the way down here as one of the least senior members of the senate banking committee and also because they say they think that warren is going to want to take a much broader approach as a united states senator than just focusing on wall street or consumer issues. immigration reform is coming here to capitol hill and the battle is going to be what's in the final bill, and particularly what's the path to citizenship forexisting undocumented workers here and the penalties for employers who have hired them. all of wall street will be
the debate on the hill has been downright discouraging. republicans and democrats resorting to name-calling as the year comes to a close. this is what we can expect in 2013, more partisan bickering? i'll vote yes. eamon javers is back with what may be ahead on the hill. >> reporter: 2013 is going to be the year that wall street lurns to love elizabeth warren. since she's been appointed to the senate banking committee says they think they can work with elizabeth warren. part of the reason...
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Dec 27, 2012
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but the concentration of starbucks stores near capitol hill is relatively low. u.s. stocks slid wednesday on the back of reports that this holiday season might have been the worst for retailers since the beginning of the financial crisis. you can see shares leading the way lower down by .3.75%. holiday sales rose less than 1% this year compared to the 2% increase in 2011. greg, if the u.s. economics et tore is still with us. should we finger the fiscal cliff here for being the english that stole christmas or is there something else going on? >> it might be the fiscal cliff. one of the interesting trends we've seen in the last few months was business spending was taking a hit as companies scaled back their expansion plans, worried that we might be heading into ae investigation in 2013 because of the fiscal cliff. but we didn't see similar behavior on the part of consumers. what you're seeing now might be a sign that consumers have, in fact, begun to react to some of the evidence in the air, that things will be rough in the coming year. so i think what we see from the
but the concentration of starbucks stores near capitol hill is relatively low. u.s. stocks slid wednesday on the back of reports that this holiday season might have been the worst for retailers since the beginning of the financial crisis. you can see shares leading the way lower down by .3.75%. holiday sales rose less than 1% this year compared to the 2% increase in 2011. greg, if the u.s. economics et tore is still with us. should we finger the fiscal cliff here for being the english that...
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Dec 22, 2012
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we have the columnist for the hill and former dnc communications director katie pavlitz. and mr. greenhaus is going to stay with us. all right, katie. first of all, obama basically said in ten days we can get a deal, it sounds like a small deal, 250,000 is the middle class threshold after mr. boehner's plan "b" got defeated. is such a thing possible? or will we have to wait until the new year? >> we're probably going to have to wait until the new year, unless, of course, president obama comes back with this new plan -- the original plan that he had, which as you mentioned the $250,000 threshold. the fact is that boehner and obama's proposals really aren't that far apart right now. president obama wants $1 trillion in new taxes, john boehner has said he's willing to give $1 trillion. obama said he wants $800 billion in spending cuts, same thing for boehner. but the difference comes with the once again, the tax threshold. president obama originally said he would be willing to go with the $400,000 tax threshold. and as boehner said going off obama's words, he was willing to do it at
we have the columnist for the hill and former dnc communications director katie pavlitz. and mr. greenhaus is going to stay with us. all right, katie. first of all, obama basically said in ten days we can get a deal, it sounds like a small deal, 250,000 is the middle class threshold after mr. boehner's plan "b" got defeated. is such a thing possible? or will we have to wait until the new year? >> we're probably going to have to wait until the new year, unless, of course,...
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Dec 28, 2012
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event down on capitol hill. what would you expect out of that today? if not, what should we expect this weekend? >> this is a show. if these guys want to get together and talk, they do it by phone. they do it through their aides. they would cut a deal that way. i think this is an opportunity for the president to show these making an effort for the congressional leaders to show that they're making an effort. but we've already heard from speaker john boehner going into the meeting that he's going to reiterate what he's been saying all along, which is that it's the senate's turn to act. i don't expect to hear much different from the senate coming out of this meeting, either. i've been pleasantly surprised in life before. don't foreclose the possibility they'll do something at the end here. but there remains the question of whether anything they can get at the end here will be big enough to really make a difference. >> alistair, it's nice to be pleasantly surprised in life. you're a senior political analyst. are there hot spots next year that you think are
event down on capitol hill. what would you expect out of that today? if not, what should we expect this weekend? >> this is a show. if these guys want to get together and talk, they do it by phone. they do it through their aides. they would cut a deal that way. i think this is an opportunity for the president to show these making an effort for the congressional leaders to show that they're making an effort. but we've already heard from speaker john boehner going into the meeting that he's...
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Dec 24, 2012
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what this requires are a group of men and women on capitol hill who will stand up and say, i'm going to go head, and i'm going to put my own political future at risk, do what will move us forward. there are husbands and wives all over the country who disagree on an issue. and they sit at their kitchen table and they say, no, i believe strongly in my point of view. but eventually one side gives and says, okay, let's try it your way. if all we do is stay at the kitchen table and neither one is willing to give, we can keep electing a new crop and they do the same thing again and again and again. at some point, we have to not allow perfection to get in the way of the good, and most importantly, these men and women have to put their own political future at risk, and be willing to take the bullet for the decisions they make to run this country. >> that will happen in january. >> why january, tony, versus now? why january versus now? >> kiki, you need a button? >> i don't remember -- >> we've got to go. i don't remember if you've been on. we want to have you back. tony you're obviously a co
what this requires are a group of men and women on capitol hill who will stand up and say, i'm going to go head, and i'm going to put my own political future at risk, do what will move us forward. there are husbands and wives all over the country who disagree on an issue. and they sit at their kitchen table and they say, no, i believe strongly in my point of view. but eventually one side gives and says, okay, let's try it your way. if all we do is stay at the kitchen table and neither one is...
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Dec 28, 2012
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so it adds to the deficit and only is willing to raise taxes on millionaires and above and that is getting through the senate. so what you're saying the reverse is true when you look at the house. boehner can pass the senate bill tomorrow as harry reid said today, but he doesn't want to do it with democrats and he wants a majority of the majority. is there anything wrong? wouldn't you like a bipartisan coming together here and everybody's in this? >> it would not be at all, and any of the plans at all, joy. and they campaign on three to one spending on we haven't seen anything like that come out of the senate. and they will not do anything to come out of the senate. >> john boehner can't get his own caulk us to take a vote on his idea to only raise the tax rates. he can't even get his own caucus to do that and he's been humiliated over and over by his own caulk us and he can solve it tomorrow. >> joy ann, harry reid hasn't passed a budget in years. >> he's passed a solution to this crisis. we're talking about the fiscal cliff. >> it hasn't got ensigned into law. there's no success yet ther
so it adds to the deficit and only is willing to raise taxes on millionaires and above and that is getting through the senate. so what you're saying the reverse is true when you look at the house. boehner can pass the senate bill tomorrow as harry reid said today, but he doesn't want to do it with democrats and he wants a majority of the majority. is there anything wrong? wouldn't you like a bipartisan coming together here and everybody's in this? >> it would not be at all, and any of the...